Braskem Agrees to Pay $228 Million for Geological Event in Brazilian State of Alagoas
MT Newswires Live
Nov 12, 2025
Braskem (BAK) said Monday it signed an agreement with the state of Alagoas, agreeing to pay 1.2 billion reais ($227.5 million) for damages caused by a geological event that occurred in the northeastern Brazilian state.
The petrochemical company said it has already paid out 139 million reais and will pay the rest in 10 annual installments, mainly after 2030.
The company said it had already earmarked about 467 million reais in previous years for potential compensation to be paid for property damage reportedly caused by its salt mines in Alagoas.
Shares of Braskem were up over 18% in recent Tuesday trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.